SSF Home Group Berhad - One-stop solutions home decor
Wed, 07-Aug-2024 10:53 am
by Team Coverage • Apex Research

Counter

SSF (0287)

Target Price (RM)

0.60

Recommendation

Buy

• One of the leading home decors in Malaysia, commanding 0.3% market share from the total home furnishing retail industry in Malaysia in FY23. 

• Core earnings are expected to improve from aggressive new outlet openings in bid to tap into wider geographical reach within Malaysia and improving purchasing power following the introduction of EPF Account 3. 

• Our DCF-derived target price of RM0.60 (key assumptions WACC: 6.5%) takes into account SSF gradual opening of new outlets and stable historical operating cash flow trend.

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.186344 4.224837
EUR 4.692802 4.707788
CNY 0.594564 0.595974
HKD 0.537155 0.542118
SGD 3.243708 3.273864